We’ve heard it often: “I’m just waiting for the market to fall before I buy.” But here’s the reality – those waiting for a price drop may be left behind.
In Hervey Bay, the market is showing resilience and continued growth. With record immigration, interest rates tipped to fall, and new government incentives making it easier for first-home buyers to enter the market, now might be the best time to act – before the window narrows.
What’s Really Driving the Market Up?
1. Record Immigration = Increased Demand
Australia is experiencing the highest levels of net overseas migration in history, with over 500,000 new arrivals in 2023 alone. This surge is creating strong demand for housing – and not just in capital cities.
Regional lifestyle hubs like Hervey Bay are benefiting, as new arrivals seek affordable, high-quality living outside the traditional metro areas. The flow-on effect?
- Increased competition for homes
- Pressure on rental markets
- Rising property prices driven by demand outstripping supply
If you’re waiting for prices to fall, you’re likely overlooking the sheer weight of demand that immigration is placing on our housing market.
2. Interest Rates Have Likely Peaked
Leading economists and major banks now believe the cash rate has peaked at 4.35%. Some are tipping the first rate cuts to begin in mid-to-late 2025. When rates fall, borrowing becomes cheaper. Buyers who were previously sidelined will return to the market – pushing demand even higher and placing upward pressure on prices.
3. Government Support for Buyers
The Queensland Government recently announced a major stamp duty overhaul for first-home buyers. From May 1, 2025, stamp duty will be abolished for new builds – a huge saving for entry-level buyers trying to break into the market. This incentive, combined with the First Home Guarantee scheme, means there is genuine help available now for buyers ready to act.
4. Hervey Bay Remains Affordable Compared to Other Coastal Hotspots
Compared to the Sunshine Coast and Gold Coast, Hervey Bay remains far more affordable, yet offers the same lifestyle appeal – beautiful beaches, strong community, great schools, and growing infrastructure. With more buyers priced out of other coastal regions, Hervey Bay continues to attract those looking for better value – which only strengthens our local market.
Why Waiting Could Cost You
Waiting for a property price drop in Hervey Bay could mean:
- Missing out on current incentives
- Facing higher prices once interest rates fall
- Being priced out as immigration fuels demand
- Losing months (or years) of potential capital growth
If you’re holding out, ask yourself this: What if this is the most affordable the market will be for years to come?
Final Thoughts
All signs are pointing to continued growth in the Hervey Bay property market. If you’re waiting for a fallback, you may end up waiting too long—and paying more later. With the right advice and strategy, now is a great time to buy, upgrade, or invest in Hervey Bay. Don’t miss your opportunity.
Thinking of Making a Move?
We’re here to help you understand the market and make confident, informed decisions. Whether you’re buying, selling, or investing, we’ll guide you every step of the way.
Let’s make your next move a success. Contact us today.
